Business Charge Cards

The best American Express Business Platinum card benefits are 120,000 points for spending $15,000 within 3 months; 5 points / $1 spent on certain spending categories, and access to more than 1,200 airport lounges worldwide. Other benefits include trip cancellation and interruption insurance, rental car insurance, and baggage insurance. And there’s a perk that gives 35% of redeemed points back with a selected airline (or any airline for first class and business class flights).

Some American Express Business Platinum card benefits aren’t exactly for everyone. Presumably, not every American Express Business Platinum card cardholder will take advantage of the 20% discount on flights with the Delta Private Jet program. But all worldwide travelers will enjoy the 0% foreign transaction fees and the complimentary Priority Pass Select membership, which gets you and up to two guests into Priority Pass lounges for free (when you enroll).

The benefits list for American Express Business Platinum card is long, but the card is only worth its $595 annual fee ($695 if application is received on or after 1/13/2022) if you use these benefits often.

Here are some of the top American Express Business Platinum card benefits:

• Airline fee credit: $200 per year in statement credits for airline charges like baggage fees and in-flight refreshments. Applies to one airline selected by cardholder.
• TSA PreCheck or Global Entry credit: Statement credit for the cost of applying for TSA Pre-check ($85) OR Global Entry ($100) every 4-4.5 years.
• Hotel perks: Staying at one of the 1100+ Amex partner hotels provides perks like late checkout, hotel credits and complimentary room upgrades.
• Airport lounge access: Access to over 1,200 airport lounges around the world with the American Express Global Lounge collection.
• 35% redemption bonus: 35% of redeemed points back when used at one selected airline. 35% back on all first class/business class flights regardless of airline.
• Trip cancellation and interruption insurance: Up to $10,000 in compensation per covered trip ($20,000 per year) for cancellation or interruption of you or a family member’s travel plans due to accidental injury or illness, bad weather, hijacking, jury duty, or damage to your primary residence.
• Rental car insurance: Covers theft and collision damage for the first 30 days of a rental. Coverage is up to $75,000. Must charge the rental to American Express Business Platinum card and decline the rental company’s insurance.
• Baggage insurance: Up to $3,000 per person per trip if baggage gets lost, stolen, or damaged while traveling. Coverage applies to cardholder, spouse and dependent children under 23. The whole reservation must be charged.

Those aren’t the only American Express Business Platinum card benefits. But they are the most broadly useful. Most of the other perks are special experiences without a clear dollar value. For example, there’s preferred seating at concerts. Or, there are services that very few people need, like private jet bookings.

The best Plum Card benefits start with a 1.5% discount on balances paid before the due date. You also get several types of insurance, including travel insurance, rental car coverage, and purchase protection.

Here are the top Plum Card benefits:

• Pay early or late: 1.5% discount on balances paid before the due date (at least 10 days in advance). And you can carry a balance for up to 60 days without paying interest. Just remember that in both cases, you have to pay at least the minimum amount required by the due date.
• Car rental insurance: You're covered up to a preset limit if a car you rent with the Plum Card is damaged or stolen. Just refuse the rental company's insurance to activate your coverage.
• Purchase protection: Replaces, repairs, or reimburses you for eligible items purchased with the Plum Card, up to a preset amount, for 90 days from the date of the purchase, due to covered reasons.
• Extended warranty: You get up to one extra year on warranties of five years or less for eligible items purchased with the Plum Card.
• Return protection: If you want to return an eligible item you bought with your Plum Card within 90 days and the store won't let you, American Express may refund the full purchase price, up to a preset amount per item and calendar year.
• Employee cards: You can get additional cards for your employees. Plus, you can set custom spending limits for employee cards, freeze individual cards, and receive employee spending alerts.
• Expense tracking tools: You can download the Amex Business App to keep track of receipts and manage cards from your phone. If you have QuickBooks, you can enroll in Connect to QuickBooks And your Plum Card transactions will automatically transfer to your account. You also get a year-end summary of charges. 

Those are the most valuable Plum Card benefits. To view more details about Plum Card benefits, visits the Amex benefits web page, select a benefit and click on the Plum Card to view details.

The American Express Plum Card’s credit score requirement is “good” or better. That means you need a credit score of 700+ for a realistic shot at approval. It is possible to get Amex Plum with lower scores, as the good credit range is generally thought to start at 660. But your odds just won’t be great if your score is below 700.

Here’s the lowdown on American Express Plum Card credit scores:

• Personal Credit Scores Are Key. Although Amex Plum is a business credit card, available only to business owners, you’re personally responsible for paying off balances. As a result, Amex considers your personal credit history (along with that of your business credit) when you apply.
• Shoot for 700+. A 700+ credit score will give you the best chances, different people report being approved with a range of scores. @Concorduser says a score in the mid-600s did the trick, for example. And @Fr0zen got the card with a score in the mid-700s. But these are anecdotal reports, and each person’s situation is different, so take them with a grain of salt.
• Other Factors. Amex also looks at your annual revenue, your estimated monthly spending, and the number of years your company has been open.

So you can consider the American Express Plum Card’s credit score requirement to be 700+.

The Amex Business Platinum additional card fee is $0 per year for an additional Green card, $45 per year for an additional Gold card and $300 per year for an additional Platinum card. That’s on top of the annual fee you pay for the primary Amex Business Platinum card. You can get up to 99 additional cards total, whether they’re Green, Gold, Platinum or a mix.

Green and Gold Amex Business cards don’t provide Platinum perks, like free airport lounge access. But they can be used to make purchases, and they will earn rewards for you (the primary cardholder). Regardless of which type(s) of additional cards you decide to add, you can set custom spending limits and freeze specific cards by logging into your account, selecting an employee card, and clicking “Manage Card Settings.”

Here’s how the Amex Business Platinum additional card fees compare:

• Amex Business Platinum Additional Green Card Fee: $0 per year. Green cards earn 2 points per dollar on the Amex Travel website.
• Amex Business Platinum Additional Gold Card Fee: $45 per card. The biggest difference between Green and Gold is that Gold lets you earn 1 more point per dollar on Amex Travel.
• Amex Business Platinum Additional Platinum Card Fee: $300 per year for 5x rewards on hotels and flights booked through Amex Travel, and all Platinum benefits.

It’s worth noting that only the primary Amex Business Platinum card holder can add additional cards. The primary card holder also is responsible for paying all charges made on those cards. But points earned with additional Gold, Green and Platinum cards go to the primary card holder, too. And that will help you save.